[ANN] Catcoin - Scrypt meow!

[raistlinthewiz]

http://cat.coinium.org/

.:: We'll be applying the hard-fork patch ::.

Quick Start

Start with registering on our pool & creating workers for your computers. You can use our automated config generator in our workers page and download pre-configured files for your mining software.

EU Stratum Server: stratum+tcp://eu.coinum.org:3336
US Stratum Server: stratum+tcp://us.coinum.org:3336

CGMiner Configuration

Here is sample CGMiner configurations with fail-over support. Given that the stratum server you use fails, your miner software will continue to work with out other stratum server.
Note: You have to change WORKER and PASS with your actual worker-name and worker-password values you get from workers page.

EU

Code:

./cgminer -o stratum+tcp://eu.coinium.org:3336 -u WORKER -p PASS --failover-only -o stratum+tcp://us.coinium.org:3336 -u WORKER -p PASS --scrypt -I 13

US

Code:

./cgminer -o stratum+tcp://us.coinium.org:3336 -u WORKER -p PASS --failover-only -o stratum+tcp://eu.coinium.org:3336 -u WORKER -p PASS --scrypt -I 13

• Our network - We already operate first class & high performance pools, check our other pools over http://www.coinium.org
• %0 fee - Our network have no fees! We just kindly ask you to donate if you like to.
• Stratum servers - We have stratum servers in Europe and  United States. Right now we have a total of 4 servers (2 stratum server, 1 webserver and 1 database server) and we are quickly upgrading & adding new servers to stack when we need to.
• Fail-over config support - In case that the stratum server you use fails, your miner will just continue to mine with our secondary stratum server.
• DDOS Protected - Our servers are DDOS protected 7x24!
• Automated backups - We get automated backups of our system.
• Automatic payments - You can set automatic payments if you like to.
• Fast confirmations - We are quickly processing your transactions once newly found blocks are confirmed.
• Automatic config generator - Check our workers page to automatically download a generated configuration file for your workers with fail-over support!
• Continous support - We are eager to help our users! You can ask for support in our forum topic.
• IRC support - We have operators in our IRC channel and you can chit-chat about mining too.
• Mobile friendly - We have mobile friendly user interface so you can check your miner's status from your mobile devices
• Contests - We are regularly creating contests and giving bonus coins to our miners!

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[Nullu]

Noob question: so does the upcoming fork mean that there will suddenly be an influx in supply of catcoins, meaning dumping and an even lower price?
Or is the price expected to rise?

Probably not. Not to the extent of launch. Everyone who wants Catcoins will be mining it before the difficulty reset. The difficulty won't be the same as launch difficulty. It will be based on the average hashrate of all mined blocks up until the block that changes the difficulty. Easier, but not for long due to the shorter time between difficulties.

Really glad to see all the pools getting behind this. I think this is going to work.

[crypt_zombie]

ok, lets move some mhs to this coin, last chance  

which pool to use? i want to move my power and forget about all this for some days, seriously guys this is exhausting.  

I'd recommend one of the CAT P2Pool nodes listed on the first post (despite having a 1% fee, one can actually mine more CATs than on the listed 0% fee pools, because the transaction fees are also split between the miners). One just has to check with the node operators, to verify that they are aware of the hardfork and will update their wallets.

Making a list of pools which are known to update before the hardfork would be usefull.

[envy2010]

Starting difficulty: 0.00024414 

Why? This diff is so low that a single gpu can mine 2 week amount within hours.

block date                       
0   2013-12-23 22:38:22
2016   2013-12-24 01:08:48
4032   2013-12-24 01:36:06
6048   2013-12-24 01:58:43

How can it be fair, that 2 month CAT supply was mined in 3 hours?

The rate at which the first 20160 blocks was mined has less to do with the low starting difficulty and more to do with the 2016 block retarget period and 4x maximum difficulty adjustment.

With an algorithm that is not CPU-only, those specs doom the coin to failure because so much hash power is available for instant reallocation to mining CAT when it's profitable.

[epenue]

ok, lets move some mhs to this coin, last chance  

which pool to use? i want to move my power and forget about all this for some days, seriously guys this is exhausting.  

I'd recommend one of the CAT P2Pool nodes listed on the first post (despite having a 1% fee, one can actually mine more CATs than on the listed 0% fee pools, because the transaction fees are also split between the miners). One just has to check with the node operators, to verify that they are aware of the hardfork and will update their wallets.

Making a list of pools which are known to update before the hardfork would be usefull.

thanks, i really would like to use p2pool, but i dont really know how it works and dont have much time now.im back to my old pool after verifying they are aware of the fork.

[kaene]

Noob question: so does the upcoming fork mean that there will suddenly be an influx in supply of catcoins, meaning dumping and an even lower price?
Or is the price expected to rise because of increased demand from faster confirmations?

any other opinions?

After the fork the coin will continue normally like if the difficulty never got this high and will be stronger against multipools jumps. Why an influx in supply?

[alicea]

Starting difficulty: 0.00024414  

Why? This diff is so low that a single gpu can mine 2 week amount within hours.

block date                        
0   2013-12-23 22:38:22
2016   2013-12-24 01:08:48
4032   2013-12-24 01:36:06
6048   2013-12-24 01:58:43

How can it be fair, that 2 month CAT supply was mined in 3 hours?

hey people
what is the situation just now?
could somebody say it in short words?

[BitchCoin]

Noob question: so does the upcoming fork mean that there will suddenly be an influx in supply of catcoins, meaning dumping and an even lower price?
Or is the price expected to rise because of increased demand from faster confirmations?

any other opinions?

After the fork the coin will continue normally like if the difficulty never got this high and will be stronger against multipools jumps. Why an influx in supply?

lower difficulty -> more mining -> more coins -> greater supply
faster confirmations -> more pumping and dumping?

-> profit?

[Nullu]

Starting difficulty: 0.00024414  

Why? This diff is so low that a single gpu can mine 2 week amount within hours.

block date                        
0   2013-12-23 22:38:22
2016   2013-12-24 01:08:48
4032   2013-12-24 01:36:06
6048   2013-12-24 01:58:43

How can it be fair, that 2 month CAT supply was mined in 3 hours?

hey people
what is the situation just now?
could somebody say it in short words?

In a few days it will be a bit easier to mine catcoin, faster to send catcoin, and more miners will come back, and the market activity will increase again.

[envy2010]

Mark my words - this will lead to endless cycles of a 12-24 hours at high difficulty (e.g., 30 minute block time x 36 = 18 hours), followed by very easy difficulty for less than an hour (e.g., 1 minute block time x 36 = 36 minutes) during which time miner-dumpers will put massive hashing power to get cheap catcoins and dump on the markets, followed again by 12-24 hours at high difficulty when loyal miners suffer, and repeat over and over again. Just a speeded up version of the same problem. Coin prices languish. The problem is the oscillation with the inherent temporary high hash power combined with dumping of the cheaply mined coins, at the expense of loyal miners - and not just the particular unrealistically high difficulty phase / slow confirm times. High difficulty is merely a symptom.

And how is a 12-24 hour cycle any worse than a cycle of 4 months at very high difficulty when the coin is unusable, with a couple days between where the difficulty is low and miners dump it?

In order to prevent this type of cycling, a smarter difficulty algorithm is needed. I would propose that the difficulty SHOULD be retargeted every 36 blocks, but that the new difficulty should be that calculated from the hashrate for the previous 2016 blocks. This gives the short-term stability of long retarget periods, and also most of the quick response time of the short retargeting period.

This would avoid miners pumping the difficulty is rapid cycles, and also keep the coin very similar to BTC in structure - the only difference would be the 36 block implementation of the retarget based on the previous 2016 blocks.

[Nullu]

Noob question: so does the upcoming fork mean that there will suddenly be an influx in supply of catcoins, meaning dumping and an even lower price?
Or is the price expected to rise because of increased demand from faster confirmations?

any other opinions?

After the fork the coin will continue normally like if the difficulty never got this high and will be stronger against multipools jumps. Why an influx in supply?

lower difficulty -> more mining -> more coins -> greater supply
faster confirmations -> more pumping and dumping?

All altcoins get pumped and dumped. Catcoin was pumped and dumped even before we got into this situation, and even if we miraciously somehow got out of it without forking, still would have been pumped and dumped. At least it's not being pumped and dumped right now. Enjoy this rare altcoin reprieve while it lasts.

[kaene]

Noob question: so does the upcoming fork mean that there will suddenly be an influx in supply of catcoins, meaning dumping and an even lower price?
Or is the price expected to rise because of increased demand from faster confirmations?

any other opinions?

After the fork the coin will continue normally like if the difficulty never got this high and will be stronger against multipools jumps. Why an influx in supply?

lower difficulty -> more mining -> more coins -> greater supply
faster confirmations -> more pumping and dumping?

It's not about lower difficulty, it's about adjusting the difficulty more often to avoid situations similar to a deadlocks.

Even if there was more mining because multipools jump in, there won't be many more coins, the amount of coins is set by the algorithm, and the difficulty would raise to make the amount of coins be as close as possible to the target (this is what actually happened but with too many blocks to retarget).

[alicea]

Starting difficulty: 0.00024414  

Why? This diff is so low that a single gpu can mine 2 week amount within hours.

block date                        
0   2013-12-23 22:38:22
2016   2013-12-24 01:08:48
4032   2013-12-24 01:36:06
6048   2013-12-24 01:58:43

How can it be fair, that 2 month CAT supply was mined in 3 hours?

hey people
what is the situation just now?
could somebody say it in short words?

In a few days it will be a bit easier to mine catcoin, faster to send catcoin, and more miners will come back, and the market activity will increase again.

Thank you
but in the moment=now is the mining and transcattions avialable, or should we pause?

[Nullu]

Well, on the plus side, with the amount of crapcoins we're about to be bombarded with, we got a damn good name of a Coin going for us. Once altcoins become as common as web domains, all the similar coins will only have branding to go by.

http://coingen.bluematt.me/

Look at the "Check Status" page. Prepare for the flood.

[Nullu]

Starting difficulty: 0.00024414  

Why? This diff is so low that a single gpu can mine 2 week amount within hours.

block date                        
0   2013-12-23 22:38:22
2016   2013-12-24 01:08:48
4032   2013-12-24 01:36:06
6048   2013-12-24 01:58:43

How can it be fair, that 2 month CAT supply was mined in 3 hours?

hey people
what is the situation just now?
could somebody say it in short words?

In a few days it will be a bit easier to mine catcoin, faster to send catcoin, and more miners will come back, and the market activity will increase again.

Thank you
but in the moment=now is the mining and transcattions avialable, or should we pause?

Mining now may keep the new difficulty a little higher, so in theory any hashrate thrown at Catcoin now should make it a smoother transition. It wouldn't be a personal advantage, but mining now would be in the best interests of Catcoin.

[kaene]

Let me tell you what will happen with the fork.

Miners who know the coin, specially those with catcoins, will get back to mine it, investors are seeing and will see a great opportunity to buy cheap while it's under 0.008 more or less, once it hits around 0.008, many people will start dumping because they just want to get rid of their catcoins and forget about this coin, then it will take a few more days to get back to the price the market thinks is suitable (personally 0.0012) because miners will continue mining it at a profitable price.

[Nullu]

Let me tell you what will happen with the fork.

Miners who know the coin, specially those with catcoins, will get back to mine it, investors are seeing and will see a great opportunity to buy cheap while it's under 0.008 more or less, once it hits around 0.008, many people will start dumping because they just want to get rid of their catcoins and forget about this coin, then it will take a few more days to get back to the price the market thinks is suitable (personally 0.0012) because miners will continue mining it at a profitable price.

Possibly. I'm honestly surprised they're still so cheap, but maybe I just have more confidence that Catcoin is going to bounce back.

[alicea]

Starting difficulty: 0.00024414  

Why? This diff is so low that a single gpu can mine 2 week amount within hours.

block date                        
0   2013-12-23 22:38:22
2016   2013-12-24 01:08:48
4032   2013-12-24 01:36:06
6048   2013-12-24 01:58:43

How can it be fair, that 2 month CAT supply was mined in 3 hours?

hey people
what is the situation just now?
could somebody say it in short words?

In a few days it will be a bit easier to mine catcoin, faster to send catcoin, and more miners will come back, and the market activity will increase again.

Thank you
but in the moment=now is the mining and transcattions avialable, or should we pause?

Mining now may keep the new difficulty a little higher, so in theory any hashrate thrown at Catcoin now should make it a smoother transition. It wouldn't be a personal advantage, but mining now would be in the best interests of Catcoin.

Thanks for the info
I've put my hashrate in another coin now, but in the morning I'll change to CAT I like CAT from its name, the same like FRK
Look at this http://chojnice24.pl/artykul/17299/kaszubska-muzyka-wchodzi-w-epoke-cyfrowa/ it's a Polish local newspaper saying about first music group accepts CAT as a payment for concerts and CD

[Kenshin]

Thank you after a few days, the new source code finally work for Linux. 

[xIronCrossx]

Mac wallet doesn't work?